Element79 Gold is a mining company focused on gold, silver and associated metals committed to maximizing shareholder value through responsible mining practices and sustainable development of its projects.
Element79 Gold's main focus is on two core properties:
- The previously-producing, high-grade gold and silver mine, Lucero, located in Arequipa, Peru, with the intent to develop a maiden resource on it as well as bring it back into production in the near term.
- Its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties. Maverick Springs hosts a 43-101-compliant, pit-constrained mineral resource estimate reflecting an inferred resource of 3.71 million ounces of gold equivalent "AuEq" at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag) with an effective date of Oct. 19, 2022.
In Canada, the Company has two properties optioned
BC:In British Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program to acquire a private company that holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. The Company is currently in negotiations with the Optionor relative to further development and/or acquisition plans.
Ontario: The Company has an option to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly-owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process through the rest of 2023.
Why Gold… Why Now?
Gold and silver mining stocks have essentially been through a ten-year bear market since peaking in 2011. We believe that the bear market ended with the lows in March of last year, especially for smaller cap, exploration-focused mining companies.
• Over the past decade there was a lack of investment in exploration and new gold and silver discoveries, setting up an incredibly bullish scenario for metals as supply is likely to remain constrained for an extended period at the same time while demand is poised to increase.
The year-over-year change in gold prices just broke out from a decade-long resistance. Last time we saw such strong appreciation was at the early stages of the 1970s gold bull market.